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Themes of Microeconomics
?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”.
Why Not?
?? Restricted Resources
?? Infinite Wants
?? Allotment of limited Resources and Trade-offs
?? In a market economy
?? In a planned economy
?? Microeconomics and Optimal Trade-offs
1. Consumer Theory
2. Workers or labours
3. Theory of the Firm
?? Microeconomics and Prices
– The function of cost in a market economy
– How prices are calculated
Microeconomics vs. Macroeconomics
Microeconomics is the basis of macroeconomic analysis.
Member's Quota in IMF Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor
Emergence and Persistence of Structural Imbalances: The period broadly corresponds to the period of the Sixth Plan and the Seventh Plan. The Sixth Plan was launched when the e
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
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the demand and supply functions for goods are given by demand:Pd=50-3Qds and supply:Ps=14=1.5Qs. where p is the price of a pair of jeans, Q is the number of pairs of jeans a) calc
Would a risk loving person prefer an increase in the chance of winning the lottery by 20% or an increase in the jackpot of 20%
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
net preparation ranjna baghel
Low levels of productivity: In addition to low standards of living, developing countries are characterized by relatively low levels of labour productivity. Throughout the dev
Challenges and discussions
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